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GPS makers, commence shaking in your boots. Yet another party has come along with hopes of destroying your business model.

The first hit came from Google, who announced back in October that they were adding free turn-by-turn functionality to Android. Nokia followed up with a massive haymaker in January, bringing free voice navigation to over a dozen of their most popular handsets. This time, it’s Microsoft.

This morning Microsoft released an update for the Bing app for Windows Mobile 6.x. They’ve changed up the initial screen a bit, adding quick search access for movies and traffic – but more importantly, they pulled in some talent from the TellMe team to implement a new navigate option with full turn-by-turn voice support. It should be available to anyone on AT&T, T-Mo, or Sprint right this second at m.bing.com.